SM Prime heads for another banner year

SM Prime Holdings Inc. (SM Prime) is poised for a banner year as the company continues to see growth across all its business segments this year.

- By RICHMOND MERCURIO

Fresh from a record-high P40 billion in consolidated net income last year, the listed integrated property developer of the Sy family could be up for another banner year in terms of profitability in 2024, according to its president Jeffrey Lim.

"In terms of net income, it is possible because last year was the highest because it was after the pandemic. So I think this year will probably be a banner year," Lim said.

Earnings of SM Prime in the first half grew by 13 percent to P22.1 billion from the P19.4 billion in the same period in 2023.

According to Lim, the company is focused on keeping a sustainable growth in the coming years.